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15-01-2020, 13:30   #1
Rainmann
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First time buyer

Hi Guys,

I am really considering buying an apartment with my girlfriend. Looking to have 2 rooms and 2 bathrooms so we can easily rent out one of the rooms. Our budget is 300k max as it is our first place and don't want to go too mad

The problem I am running into is location vs the actual apartment. My girlfriend is less concerned about the location but I know location is really important especially when trying to rent it or sell it in time. Areas I am interested in are phibsboro, Glasnevin, Drumcondra and some areas in D8 but I am still struggling to find a huge amount.

Any thoughts on some other decent location options which are reasonably priced and not too far from town? I know there's not really a simple answer but any advice would be appreciated.
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16-01-2020, 13:04   #2
riclad
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You,ll get a good rent in any area , thats within 4 miles of dublin 1,
my advice is buy one that is near a luas, or a bus stop, and also close to where you work.
go to daft.ie , look for apartments under 300k.
i would go for dublin 8,phobsboro, vs glasnevin unless glasnevin is cheaper.
It may be difficult to find an apartment with 2 bathroom,s .
for 300k,you could buy a 3bed house in dublin 1 or dublin2.
with 2 bathrooms.

apartments have service charges, at least 1000 euro.
house,s zero service charge.
why are you so dead set on buying apartments
vs buying a house.

https://www.daft.ie/dublin-city/prop...Bmxp%5D=300000

https://www.daft.ie/dublin/houses-fo...ublin-2151679/
one main bathroom, and one small bathrroom,

a house in a quiet cul de sac could be a good investment
its hard to find 2 bathroom units for 300k.

Last edited by riclad; 16-01-2020 at 13:08.
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16-01-2020, 13:22   #3
johnnyskeleton
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Quote:
Originally Posted by Rainmann View Post
Hi Guys,

I am really considering buying an apartment with my girlfriend. Looking to have 2 rooms and 2 bathrooms so we can easily rent out one of the rooms. Our budget is 300k max as it is our first place and don't want to go too mad
If by "we can easily rent out one of the rooms" you mean that if you ever need to as extra security then that is a sensible option. However, if you are thinking that renting a room is quite likely, I'd advise being a bit cautious.

A 2 bed apartment is not a massive space for 3/4 people, and a lot of people who want to rent a room don't want to rent from owner occupiers. The scenario would be that if I were looking to rent a room, I would feel that I wouldn't be welcome in the sitting room/kitchen of the owner occupier couple. And equally you and your girlfriend may not be happy with the fact that your new dream home is also the home of some random punter.

I know the tax incentive of the rent a room scheme is great, but I'd say don't factor in the rent of such a room in any of your calculations.

Quote:
The problem I am running into is location vs the actual apartment. My girlfriend is less concerned about the location but I know location is really important especially when trying to rent it or sell it in time. Areas I am interested in are phibsboro, Glasnevin, Drumcondra and some areas in D8 but I am still struggling to find a huge amount.
Where do you both work? Aim for somewhere reasonably close or within commutable distance. Location is probably the most important factor, but with apartments make sure that it is a good development too. Lots of apartment blocks are not particularly well maintained.

Quote:
Any thoughts on some other decent location options which are reasonably priced and not too far from town? I know there's not really a simple answer but any advice would be appreciated.
Crumlin is quite popular at the moment, reasonably close to town and well priced. Some parts are quite rough though.
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16-01-2020, 13:35   #4
hottea2019
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Dublin 8 seems to be the most decent areas in your list and the closest one to town.
We're also first time buyers here and did plan to go for a 2-bed 2-bath apartment like you. However, after couple of viewings and also some discussion with our colleagues, we've decided to increase our budget to go for a proper house. There are some reasons:

1. Service charge is quite insanely expensive. Some of our colleagues told us that the management companies have full right to increase the fee any time - i.e: we have no idea how mad it gonna be.
2. Soundproofing: in general sound-proofing is a common issue in most of properties we've lived/viewed. You will get "more chances" to have some annoying nextdoor neighbour in an apartment than a house.
3. Sinking cost: like fixing elevator, roof, etc, even when you are living at the ground floor.
4. Social housing: many apartments we've checked have been assigned 50%+ for social housing. There are few which seem to have no social housing but the price is quite expensive for a small living space.
5. Other issues: waterleaking, fire alarm, structure issues. Be careful with apartments built during the boom.

Hope it'll help. Best of luck

Last edited by hottea2019; 17-01-2020 at 09:44.
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17-01-2020, 10:48   #5
SozBbz
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Quote:
Originally Posted by hottea2019 View Post
Dublin 8 seems to be the most decent areas in your list and the closest one to town.
We're also first time buyers here and did plan to go for a 2-bed 2-bath apartment like you. However, after couple of viewings and also some discussion with our colleagues, we've decided to increase our budget to go for a proper house. There are some reasons:

1. Service charge is quite insanely expensive. Some of our colleagues told us that the management companies have full right to increase the fee any time - i.e: we have no idea how mad it gonna be.
2. Soundproofing: in general sound-proofing is a common issue in most of properties we've lived/viewed. You will get "more chances" to have some annoying nextdoor neighbour in an apartment than a house.
3. Sinking cost: like fixing elevator, roof, etc, even when you are living at the ground floor.
4. Social housing: many apartments we've checked have been assigned 50%+ for social housing. There are few which seem to have no social housing but the price is quite expensive for a small living space.
5. Other issues: waterleaking, fire alarm, structure issues. Be careful with apartments built during the boom.

Hope it'll help. Best of luck
D8 is better than leafy Drumcondra? Or closer to town? Sounds like some southside bias there.

Anyway OP,

1. Service charges can be expensive and can be alright actually. The fees for the following year are signed off by all owners (who turn up) at the AGM. Some years they can be expensive if there is a major maintenance item to be paid for. However this is the same in owning a house - if something expensive needs to be paid for, it needs to be paid for. The board of any development are usually just a group of ordinary home owners (you could even join it yourself) who are trying to do right by everyone.
My one tip for avoiding high fees is to look at blocks with a decent number of units, no lifts and no electric gates. Lifts and gates are both expensive when it comes to repair and replacement and you want a good number of units so that everything is split a lot of ways.
2. Soundproofing - can be an issue with a lot of homes, not just apartments. I think especially boom time builds.
3. All owners are communally responsible for the entire complex.
4. Social Housing - never heard of such ratios and didnt see it when I was house hunting.
5. Be careful with anything built during the boom. Houses behind us (built in 2005) needed their roofs redone last year. Not good.

Owning any property is not cheap. I have an apartment and bought a house recently. The house has already cost us €35k in the past few months. Some of this was expected and factored into the purchase price and some was discretionary (new kitchen and other decorative items) but owning property is more than just making the mortgage payment. If our boiler goes in the morning, thats on us straight away. We've had to buy lots of items that we never previously needed, like a shed, lawn mower (for a large lawn) and other garden equipment. Not cheap.

In my apartment, yes I paid €x per year, but a gardening company came every Tuesday and the place was always immaculate. I never gave it a second thought. A well run development can be a hassle free way of life.

This is far more than I ever spent on the apartment, including management fees.
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17-01-2020, 10:52   #6
pmcc1
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Be on the lookout for locations close to new MetroLink stops. Places near the Mater and Cross Guns bridge will start to rise in value over the next six years when works are in train.

I have heard this development at Cross Guns is quite high quality:
https://www.myhome.ie/residential/br...blin-7/4309312

..But Cabra East has a lot going for it and will get you a comfortable house in a settled area for the budget.
https://www.myhome.ie/residential/br...blin-7/4404277

Good luck!
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17-01-2020, 12:49   #7
riclad
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House vs apartment. no service charges,s , no noise from neighbours living below you , above you , behind you.
You can buy a house in the city centre 280-300k.
2 bathroom,s with a back garden.
cabra is withing cycling distance of o.connell st .
buying a house there is a good long term investment .
if you have a house, you have the choice to put in an extra bathroom.
you may have a parking space too.
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